Tuesday, March 15, 2005

Smogasbord from the Sunday NY Times

The Sunday NY Times had a rich selection of articles by some of my favourite authors.

Niall Ferguson wrote on the international political economy of the dollar system, arguing that the US gets reduced borrowing costs in return for acting as the buyer of last resort for Asia. More importantly, he looks to see the situation continue for the forseeable future, as the Asians both look to maintain employment and avoid capital losses on their dollar assets.

The magazine has a long reportage on the state of Palestine, wearily taking a break from violence, absorbed in its own situation and soberly accepting the political culture that seems to drive the violence.

Francis Fukuyama celebrates the centenary of Max Weber's Protestant Ethic and the Spirit of Capitalism (which Ferguson has also spoken of). The target of his criticism of cultural explanations of politics and econoimcs seems to be his frequent adversary Samuel Huntington.